Abstract:
Solar Thin Films, Inc. (OTCBB: SLTZ) today announced that it has retained the services of Charter Capital Advisors, Inc. to issue a fairness opinion to ascertain the consideration required to complete the acquisition of Algatec Equity Partners LP. As previously announced, Algatec Equity Partners LP owns a 47% equity interest in the capital stock of Algatec Solar AG, a growing producer of silicon crystalline solar panels and modules. The stake in Algatec will be obtained in exchange for approximately 43.0 million shares of Solar Thin Films common stock; which number of shares are subject to adjustment based on the independent fairness opinion to be prepared by Charter Capital Advisors, Inc. Solar Thin Films also intends to continue its negotiations with all other Algatec stockholders to acquire the remaining 53% interest of the capital stock of Algatec Solar AG.